JPMorgan Chase & Co. Boosts Philip Morris International (NYSE:PM) Price Target to $125.00

Philip Morris International (NYSE:PM) had its target price boosted by JPMorgan Chase & Co. from $110.00 to $125.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also weighed in on PM. Stifel Nicolaus increased their price objective on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a buy rating in a research note on Wednesday. StockNews.com raised Philip Morris International from a hold rating to a buy rating in a research report on Monday, July 22nd. Finally, Bank of America boosted their price objective on Philip Morris International from $110.00 to $118.00 and gave the company a buy rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International has a consensus rating of Moderate Buy and an average target price of $107.80.

Philip Morris International Stock Performance

Philip Morris International stock opened at $113.36 on Thursday. The business’s 50-day simple moving average is $103.26 and its two-hundred day simple moving average is $96.53. The company has a market cap of $176.22 billion, a PE ratio of 22.14, a PEG ratio of 2.30 and a beta of 0.58. Philip Morris International has a fifty-two week low of $87.23 and a fifty-two week high of $113.68.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 10.92%. The firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts predict that Philip Morris International will post 6.4 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 4.59%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s payout ratio is currently 101.56%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Kessler Investment Group LLC acquired a new position in Philip Morris International during the first quarter worth $25,000. Iron Horse Wealth Management LLC lifted its stake in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its stake in Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares in the last quarter. Fortitude Family Office LLC increased its stake in Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after buying an additional 116 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Philip Morris International during the fourth quarter valued at approximately $33,000. 78.63% of the stock is owned by institutional investors and hedge funds.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.